Memorandum - Wamark Educational Publishers

1 1 Grade 9 Top Accounting Exam 155 Marks 105 Minutes Memorandum Question 1: Cash Receipts journal of Idols for October 2011 Doc no D Details F Analysis of Receipts Bank Sales Cost of Sales Debtors Control Sundry Accounts Amount F Details R460 01 Kelly 750 750 750 CRR 01 Sales sales 1500 2 250 1 500 1 000 R461 09 Randal 8 750 8 750 Capital CRR 09 Sales 2 700 11450 2 700 1 800 R462 17 Dene 1 100 1100 1100 Rent Income CRR 20 Sales 3 300 3300 3 300 2 200 R463 29 Lefa 1 010 1010 CRR 29 Sales 4 200 5210 4200 2800 23 310 11 700 7 800 1 760 9 850 (22) 2 Cash Payments journal of Idols for October 2011 Doc no D Details F Bank Trading Stock Wages Creditors Control Sundry Accounts Amount F Details C550 05 Freddie 1 420 1 420 C551 05 Crushanda 7 740 7 600 140 Stationery C552 17 Cash 2 250 2 200 50 Cash Float C553 21 Postmaster 475 375 Telephone 100 Drawings C554 27 Erin 1 434 1 234 200 Equipment C554 30 Cash 4 000 3 200 800 Stationery C555 30 Municipality 12 000 1 500 Drawings 10 500 Rates 29 319 7600 5 400 2654 13 665 (20 marks) Debtors journal Idols for October 2011 Doc Day Details F Sales Cost of Sales I270 02 Mark 270 180 I271 12 Lefa 180 120 I272 18 Kelly 420 280 I273 24 Lefa 330 220 1200 800 (18 marks)

2 Creditors journal of Idols for October 2011 Doc Day Creditor F Creditors Control Trading Inventory Stationery Sundry Account Amount F Details I270 02 Erin 594 594 repairs I271 12 Freddie 205 85 120 Repairs I272 18 Dave 4 000 4 000 Vehicles I273 24 Freddie 8 360 7 920 440 13 159 8514 525 4120 (10 marks) 3 Question 2: General Ledger of Cape Town Fisheries Balance Sheet Section Bank Date Details Fol Amount Date Details Fol Amount Aug 11 01 Balance b/d 13 517 Aug 11 31 Total payments CPJ 29 980 31 Total Receipts CRJ 24 360 Balance c/d 7 897 37 877 same 37877 Sept 11 01 Balance b/d 7 897 6 Debtors Control Date Details Fol Amount Date Details Fol AmountSpt Aug 11 01 Balance b/d 7 311 Aug 11 31 Bank CRJ 13 240 31 Sales DJ 17 650 Balance c/d 11 721 24 961 same 24 961 Sept 11 01 Balance b/d 11 721 6 s Nominal Accounts Section Sales Date Details Fol Amount Date Details Fol Amount Aug 11 01 Total b/d 98 500 31 Bank CRJ 9 000 Debtors Control DJ 17 650 125 150 4 Trading Stock Date Details Fol Amount Date Details Fol Amount

3 Aug 11 01 Balance b/d 22 890 Aug 11 31 Cost of Sales DJ 10 590 31 Bank CPJ 11 530 Cost of Sales CRJ 5 400 Balance c/d 18 430 34 420 same 34 420 Sept 11 01 Balance b/d 18 430 6 4 Cost of Sales Date Details Fol Amount Date Details Fol Amount Aug 11 01 Total b/d 59 100 method mark 31 Trading Stock DJ 10 590 Trading Stock CRJ 5 400 75 090 method mark 4 Rent Income Date Details Fol Amount Date Details Fol Amount Aug 01 Total b/d 3 360 31 Bank CPJ 1 120 4 480 3 Repairs Date Detailss Fol Amount Date Details Fol Amount Aug 11 01 Total b/d 780 04 Bank CPJ 567 1347 3 Pj4 Stationery Date Details Fol Amount Date Details Fol Amount Aug 11 01 Total b/d 1 020 27 Bank CPJ 1 700 2 720 3 5 Question 3: Prepare the Income Statement and Balance sheet and notes with the information give below.

4 (50 marks) Fascinating Traders INCOME STATEMENT FOR THE YEAR ENDED 30 October 2011 Sales 42 919 98 Cost of Sales (28 335 98) Gross Profit 14 584 00 Other operating income 7 500 00 Rent income 7 500 00 Gross Operating Income 22 084 00 Operating Expenses (17 763 70) Telephone 1 072 00 Repairs 375 00 Wages 10 285 00 Packing Material 1 797 82 Water & Electricity 2 071 71 Stationery 747 00 Postage 140 00 Advertising 1 275 17 OPERATING PROFIT for the Year 4 320 30 Interest Income 800 00 Profit before Interest Expense 5 120 30 Interest Expense (350 00) Net profit for the year 4 770 30 (20 marks) 6 . Fascinating Traders BALANCE SHEET AT 30 October 2011 ASSETS Notes Non- Current Assets 122 412 98 Property, plant and equipment 1 122 412 98 Current assets 111 978 45 2 48 241 02 Cash and cash equivalents 4 63 737 43 Total assets 234 391 43 EQUITY AND LIABILITIES Owner's Equity 5 234 391 43 234 391 43 Total Equity and Liabilities 234 391 43 NOTES 1.

5 Property, plant and equipment Land and buildings 100 412 98 Vehicles 22 000 00 122 412 98 2. In ve nt or y Trading inventory 48 241 02 48 241 02 3. Trade and other receivables Debtors 0 4. Cash and cash equivalents Bank 59 119 43 Cash float 4 500 00 Petty Cash 118 00 63 737 43 5. O w ne r' s E qu it y Balance of the capital from previous accounting period 231 371 13 Net profit / loss from Income statement 4 770 30 Drawings (1 750 00) Balance at end of year 234 391 43 (30 marks) 6. Trade and other payables Creditors 0 Same 7